BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - MTU Aero Engines AG (MTUAY.PK) increased revenues and earnings in the first quarter of 2019, confirming its positive business prospects for 2019. The group's operating profit grew by 7% year-over-year resulting in an adjusted EBIT margin of 16.6% compared to 17.2%. Adjusted net income increased in line with EBIT adjusted, up 8%, for the first-quarter.
For the first-quarter, reported net income was at 126.5 million euros compared to 106.2 million euros, a year ago. Earnings per share was 2.42 euros compared to 2.04 euros. EBIT, adjusted, was 187.6 million euros compared to 175.1 million euros. Net income, adjusted, was 133.5 million euros compared to 123.3 million euros.
MTU's order backlog reached its highest level ever at the end of March 2019 at 18.5 billion euros. First-quarter Group revenues were up 11.3% to 1.13 billion euros from 1.02 billion euros, a year ago. In the first quarter, MTU recorded the highest revenue growth in the commercial engine business.
For 2019, Group continues to projects revenues around 4.7 billion euros. The group's adjusted EBIT margin is expected around 15.5%. Operating profit and net income adjusted are expected to increase in line with one another, the Group said.
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